In November, for our Data-Driven Digital community webinar, we talked to Ben Cook from Comestri to learn how integrating your inventory with your online advertising channels can help you sell more.
Countless retailers are wasting precious advertising dollars, giving their customers a bad experience and sending them straight into the waiting arms of their competitors.
In this session, we looked at how tying inventory into your advertising channels gives you the competitive advantage you need; increasing conversions online and sending (masked-up) foot traffic into retail stores.
Watch the recorded webinar below to learn more.
Make Your Inventory Work Harder
How Integrating Your Inventory with Your Online Advertising Channels Can Help You Sell More
Why Integrate Inventory into Your Ecommerce System?
Live inventory = only selling what you have in stock across your entire eCommerce ecosystem.
- No cancelled orders
- Better customer experience
- Selling stock no matter where it’s located
- Minimise distressed stock
2020 has seen a fundamental shift in consumer behaviour, forcing the fast track of digital transformation for many retailers. Foot traffic declined as Australians embraced eCommerce; the ABS reporting that online sales contributed 11.1% to total retail turnover in April, up from 7.1% in March 2020 and 5.7% in April 2019.
Omnichannel Retail for the Win
Retailers that have thrived during the pandemic were the ones who had already gone through their digital transformation. They were able to pivot; turn stores into distribution centres, keep staff employed fulfilling online orders, turn on additional sales channels and engage their customers in a way that wasn’t reliant on foot traffic.
Out of Stock
… and that’s pre-COVID!
Why Integrate Inventory into Your Ad Spend?
A Perfect Customer Journey
Let’s begin by looking at a very basic, straightforward customer journey to purchase. They search, click, purchase… their order is shipped and delivered – happy days.
A Not-So-Perfect Customer Journey
What happens when the chain breaks?
The answer?
Integration and Automation of Ads Based on Inventory Levels
The right technology can help you automate processes and make your advertising dollars work harder.
The right tools can make this easy.
Once you’ve created the rules in Comestri, set ad campaigns in Google Ads to exclude “out of stock” products.
The Possibilities are Endless
Enable click & collect / omnichannel features
- Show available inventory at nearby stores – Google Local Inventory
- Drive foot traffic instore and give store staff the opportunity to engage with customers
- Prevent oversells and a negative customer experience
Wrap ad spend around inventory that needs to move
- Distressed stock, end of season stock, last sizes
- Ship from store functionality – sell stock, no matter where it’s located
Key Takeaways
Live inventory is where it’s at
- Live inventory powers automation for both ad spend and omnichannel retail
- Total visibility over your stock and its location will give you a competitive advantage
Link inventory with your ad spend for the win
- Move the stock you need to move
- Improve customer experience
- Keep your customers spending with you and not your competitors
- Be ready for the future – data powers everything!
